Sensor, Communications, and Software Technologies, Smart City Applications, City and Supplier Profiles, Market Analysis, and Forecasts

Drivers searching for parking are responsible for around 30% of traffic congestion in cities. The congestion caused by poorly managed parking supply frustrates drivers, wastes fuel, creates air and noise pollution, and stifles economic activity. Today, the parking industry is going through its biggest transformation since the introduction of the first parking meters in Oklahoma City in 1935. It is being transformed by new technologies that are having an impact on operational efficiency and customer expectation, even as broader changes are being driven by new perspectives on the role of parking within cities.

Faced with growing environmental and economic pressures on city transportation, cities are reexamining how and where parking is provided and seeking to provide a more balanced view of parking that better manages supply and demand. Enabled by new technologies, innovative approaches to parking are becoming one of the cornerstones of cities' mobility strategies. Navigant Research forecasts that the installed base of on-street smart parking spaces will surpass 950,000 worldwide by 2020.

This Navigant Research report examines the evolution of smart parking technology and the smart parking system market, with a particular focus on on-street parking. The report analyzes the drivers for the transformation in parking, including financial, environmental, and economic factors, and assesses approaches to parking in different regions. Detailed profiles of major smart parking projects are provided, and the report forecasts the size and growth of the market for smart parking systems through 2020, including hardware, software, and services.

Key Questions Addressed:

• What defines a smart parking system?

• What are the main market drivers and barriers for the deployment of smart parking systems?

• What are the component technologies of smart parking systems?

• What is the relationship between smart parking and smart cities?

• What financing models are being used for smart parking projects?

• Who are the key players in the market and how do they relate to each other?

• How large is the global smart parking technology and services market, and how large will it be in terms of revenue and parking spaces by 2020?